ASST CIT 32 (1), MUMBAI vs. SHRI. HANVANT SINGH JABBAR SINGH RANAWAT, MUMBAI

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ITA 6882/MUM/2019Status: DisposedITAT Mumbai03 May 2021AY 2012-133 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that penalty cannot be levied on estimated additions for unproved purchases as it does not constitute concealment of income. Additionally, the appeal was not maintainable due to the low tax effect as per CBDT Circular No. 17/2019.

What were the facts?

The Revenue appealed against the deletion of a penalty levied under Section 271(1)(c) of the Income Tax Act. The penalty was imposed on estimated additions made on account of alleged bogus purchases.

What were the issues?

Whether penalty under Section 271(1)(c) can be levied on estimated additions for bogus purchases and if the Revenue's appeal is maintainable given the low tax effect.

Which sections of the Income-tax Act were involved?

Section 271(1)(c)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “H” BENCH, MUMBAI

Before: HON’BLE SHRI MAHAVIR SINGH, VP & HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM

For Respondent: Shri Gurbinder Singh-Ld. DR

आयकर अपीलीय अधिकरण “एच” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “H” BENCH, MUMBAI माननीय श्री महावीर स िंह, उपाध्यक्ष एवुं माननीय श्री मनोज कुमार अग्रवाल ,लेखा दस्य के मक्ष। BEFORE HON’BLE SHRI MAHAVIR SINGH, VP AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM (Hearing Through Video Conferencing Mode) आयकरअपील िं./ (धििाारण वर्ा / Assessment Year: 2012-13) ACIT-32(1) Hanvant Singh Jabbar Singh Ranawat R.No.702, 7th Floor C/204, Arihant Apartments बिाम/ Kautilya Bhawan Sodawala Lane, Govind Nagar Vs. BKC, Bandra (E) Borivali (West) Mumbai – 400 051 Mumbai – 400 092 स्थायीलेखा िं./ जीआइआर िं./ PAN/GIR No. ADXPR-7563-F (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : Assessee by : None Revenue by : Shri Gurbinder Singh-Ld. DR ुनवाई की तारीख/ : 21/04/2021 Date of Hearing घोषणा की तारीख / : 03/05/2021 Date of Pronouncement आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member)

1.

Aforesaid appeal by revenue for Assessment Year [AY] 2012-13 contest the order of Ld. Commissioner of Income-Tax (Appeals)-44, Mumbai [CIT(A)] dated 05/08/2019 which has deleted the penalty of Rs.14,302/- u/s 271(1)(c) as levied by Ld. AO vide penalty order dated 11/09/2015. Though none appeared for assessee, however, the material on record was sufficient enough for disposal of the appeal.

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